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MOHELA was founded by Missouri lawmakers in 1981 to oversee loans guaranteed by the U.S. federal government through the Federal Family Education Loan Program.Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry.
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
MOHELA is a student loan servicer that is headquartered in St. Louis, Missouri. There are many resources available on the MOHELA website about the borrower experience, and you can contact MOHELA ...
This ruling follows multiple rounds of federal courts blocking and unblocking parts of the program. ... MOHELA, one of six federal student loan servicers, is facing a lawsuit over claims of ...
The program replaced the earlier Federal Family Education Loan (FFEL) program which issued "guaranteed loans" — loans originated and funded by private lenders but guaranteed by the government. The FFEL program was eliminated because of a perception that it benefited private student loan companies at the expense of taxpayers, but did not help ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.